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Super Rugby embraces private ownership

The Wellington-based Hurricanes Super Rugby franchise is the first to settle with a new owner 10 months after the New Zealand Rugby Union put out the call for potential bidders.

The new entity, Hurricanes Investments LP, will be half-owned by the Wellington Rugby Football Union, a quarter held by former Brierley Investments boss Paul Collins, and the remainder divvied up between Wellington Phoenix operators Welnix and interests associated with Liz Dawson and Colin Oldfield, the NZRU said in a statement.

The franchise runs for three years, with a five-year right of renewal. No value was given for the franchises.